2024-11-11 15:05:13 :
India’s Vedanta Ltd. announces plans to invest approximately $500 million in its display glass subsidiary AvanStrate Inc. PTI Reported on Monday, November 11.
The metals and mining giant is also exploring the possibility of setting up a display semiconductor manufacturing plant in India, the news agency reported.
“Vedanta Limited plans to invest close to $500 million (approx. $The company has invested Rs 4,300 crore in its group company AvanStrate Inc. (ASI), a leading global manufacturer of display glass, which is currently fully managed by Vedanta Limited. “
Vedanta shares fell 0.70% in the final session of Monday’s trading session $454.60 compared to $The previous market close was 457.80.
The company plans to use this as a strategic investment to drive innovation and expansion within ASI. According to the statement quoted in PTI The company aims to increase its focus on R&D, manufacturing capabilities and product offerings to meet the growing global demand for advanced display glass solutions, the report said.
“This strategic investment by the Vedanta Group reflects our clear and unequivocal shift in focus towards major, growth-oriented projects. We are confident that ASI’s cutting-edge R&D capabilities and world-class team of engineers will be able to serve our customers and partners Providing a range of future-proof solutions that propel the company on a path to positive industry disruption,” Akarsh Hebbar, Global Managing Director, AvanStrate told us. PTI.
Vedanta and Avantstrata
Earlier this year, Vedanta Ltd acquired 98% of AvanStrate Inc.
The company has R&D capabilities and operations in Taiwan, South Korea and Japan. The goal is to drive the development of next-generation glass products designed for advanced packaging and potential applications in semiconductors, biotechnology, automotive displays and other high-growth areas, the report said.
“Vedanta’s expertise and support puts us in a strong position to expand R&D, expand production and meet changing market demands. As ASI expands into new market segments to meet the demand for high-performance materials, we will enhance our capabilities in Showing leadership in the glass industry and beyond, with a clear focus on sustainability and long-term growth,” AvanStrate Inc. officials told the news service.
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